Planning Decisions Drive Commercial Property Investment in Roxburgh Park

Commercial property activity in Roxburgh Park continues to demonstrate the effects of earlier planning decisions, with buyers and tenants responding to sites that received approvals for mixed-use and retail uses.

Recent Acquisitions Show Planning Outcomes

Kennard's Self Storage acquired the former Masters site in Roxburgh Park for $35 million in June 2022, planning a mixed-use redevelopment with self-storage, retail, and fast food. The purchase aligned with planning permissions that permitted conversion of the large former retail site. In March 2024, Hong Kong-based JY Group purchased Roxburgh Village from Vicinity Centres for $123 million, keeping anchor tenants including Aldi, Coles, and Sacca Fine Foods in place. These deals illustrate how planning frameworks that allow adaptive reuse and continued retail operation have sustained buyer interest.

FoodWorks opened a new 900+ sqm store at Roxy Central in 2021, a 5,000 sqm neighborhood shopping centre that reached 90% pre-commitment prior to full completion. The centre's leasing success before opening further reflects the market response to sites with confirmed planning support for retail development.

Current Listings Reflect Active Market

Roxburgh Park has 98 commercial properties currently for sale and 156 for lease as of recent listings, indicating active commercial market activity. This volume of listings points to ongoing supply and demand patterns shaped by prior planning approvals that enabled a range of commercial uses across the suburb.

The presence of both sale and lease opportunities suggests that planning decisions have created conditions where property owners can bring varied commercial spaces to market while tenants continue to seek locations with established approvals.

Population Figures Support Ongoing Demand

The suburb recorded a population of 24,129 in 2021 with strong growth forecasted to add 12,284 residents through 2041, supporting commercial property demand. This demographic trajectory provides context for why planning decisions that facilitate additional commercial floor space remain relevant to investors and operators.

Market participants are likely to monitor any future adjustments to local planning settings that could influence the timing or scope of new commercial projects in Roxburgh Park.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.